Here’s a great explanation from Psychology Today for why experiences make us happier than possessions: Because the experience becomes part of our identity. It becomes the story you tell, the memory you have, and something that can even influence your personality – like if you discover something in another culture that really inspires you. And the memories from an experience get rosier over time, but possessions LOSE value. And let’s face it. When someone asks for your life story – you’re more likely to tell them about the trip you took to Sri Lanka that changed your life, than the cool car you owned 10 years ago.